Finding land zoned for small multi-family development (UT County)
Hello friends! I've never posted before but I'm a current BYU student and am trying to move into the long-term rental game here in Utah County. I currently have just one property (Provo duplex) but am actively looking to acquire #2.
I would love for it to be a new build. 2-4 units is obviously easiest, but anything up to 8 is probably doable. I want to do class A, nice stuff, 2/1 to 3/2. Anywhere from South Jordan to Provo, but especially interested in the Lehi area. I work as a project manager and superintendent for a homebuilder so I have the resources and experience to pull it off. It would be stretching, but in a fun way and I'd love a chance to make it happen.
All this to say, how the heck does a guy find land (zoned for multifamily) that could make sense in a smaller 4-plex like development?
I've got an agent or two looking, have been talking with city planners, and working on this for a bit and am getting a sense that this is a tough thing to find. Cities want bigger complexes so newly zoned land goes to the big guys, and small stuff that's grandfathered in already has buildings on it. I'm prepared to knock down a small, old house on a big lot that happens to have the right zoning, I'd just need to find one that would work.
Has anyone done this before? anyone successfully gotten land re-zoned? anyone know good land brokers with access to this kind of stuff? anyone in the business of wholesaling ideal knockdown houses? anyone know of cities that are good targets for small-multi new development? anyone want to partner?
I'm happy to chat or meetup and would love any general thoughts or advice as well.
My recommendation would be to find an existing four-plex and renovate it to the higher standards that you want. That solves your zoning problem. Also, working for a home builder, you've got an intimate understanding of the current housing shortage. You don't have to have class A units to get great rates. I'd be willing to bet you'd get a better return on your money renovating an existing four-plex.
Matt,
Your best bet is going to be to sourcing deals yourself. I've had good success finding small development projects similar to what you described by understanding the zoning and then targeting property owners in those zones. Build a list and then knock doors, make phone calls, send letters, etc. I have three deals currently that will be developed with between 4 and 15 units each that I have found this way.
Happy to talk more about what has worked for me. Sounds like you have the construction side down, but if you need any help with architecture or entitlements, my partners and I can help.
Thanks for the input Cason, I definitely feel that. There's plenty of existing small multi out there and I could definitely target depressed buildings and get my construction kick out of an extensive renovation. Worth keeping that option open for sure.
Josh, super cool to hear that you've had lots of success doing this around here. I've knocked a very small handful of doors, and have been considering some type of direct mail, but I'll need a more intentional/targeted/organized approach. I also really appreciate your offer to share more, I'll definitely need to take you up on that. Do you have a preferred method of communication I could use to reach out with follow-up questions?
@Matt Todd
I just sent you a connection request. Send me a message and I will give you my phone number and email.
Matt,
I'm from Alabama and recently moved back from living in Utah for a year. I'm starting development on a new 4Plex down here in Alabama and I used the same strategy Josh spoke about. I actually found a lot that was zoned for 2-7 units and found I can put a 4Plex on it. Once I finish this project, I'm actually moving back out to Utah and I'm currently researching the needed zoning for that same thing as well. We should talk, maybe we can bounce some ideas off each other.
I have a 3.3acres lot in vernal, approve to build 13 houses if you are interested!
